Independent Auditor’s Report
We have audited the accompanying financial statements of the governmental activities,
each major fund, and the aggregate remaining fund information of the XYZ City Board
of Education, a component unit of the City of XYZ, Alabama, as of and for the year
ended September 30, 200X, which collectively comprise the Board’s basic financial
statements as listed in the table of contents. These financial statements are the
responsibility of the XYZ City Board of Education’s management. Our responsibility is to express opinions on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the
United States of America and the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinions.
In our opinion, the financial statements referred to above present fairly, in all material
respects, the respective financial position of the governmental activities, each major
fund, and the aggregate remaining fund information of the XYZ City Board of
Education, as of September 30, 200X, and the respective changes in financial position
thereof for the year then ended in conformity with accounting principles generally
accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued our report
dated [date of report] on our consideration of the XYZ City Board of Education’s
internal control over financial reporting and on our tests of its compliance with certain
provisions of laws, regulations, contracts, grant agreements, and other matters. The
purpose of that report is to describe the scope of our testing of internal control over
financial reporting and compliance and the results of that testing, and not to provide an
opinion on the internal control over financial reporting or on compliance. That report is
an integral part of an audit performed in accordance with Government Auditing
Standards and should be read in conjunction with this report in considering the results
of our audit.
The Management's Discussion and Analysis and the budgetary comparison information (Exhibits Y and Z) are not required parts of the basic financial statements but are supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it.
The accompanying schedule of expenditures of federal awards is presented for purposes of additional analysis as required by U. S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and is not a
required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects, in relation to the basic financial statements taken as a whole.